1. Be passionate about what you are doing
2. Set priorities
3. Set expectations

On being passionate, you need to choose a product or service you are passionate about. Being an entrepreneur is hard and requires long hours, as well as a strong emotional commitment. It's hard not to get burned out quickly, so you need to at least being really passionate about what you are doing to persevere through the tough times.

On setting priorities, you should set daily, weekly and then longer term priorities. You will need to adjust along the way, but there are so many "urgent" things every day, that if you don't set priorities, you will never get to the important strategic things that will take your business to the next level. Also, there is no structure imposed on you as an entrepreneur, you need to create structure. Otherwise, you'll get through a day and wonder why it wasn't as productive as you needed it to be.

On setting expectations, most likely, you're business is not going to be an overnight hit. Starting and running a business is a marathon, not a sprint. While working hard and moving fast is often very important, you also need some balance. If you sprint too hard in the beginning you will get burned out quickly.

Consistency goes for how you present yourself, your business, your product/service. Be consistent with the product/service quality, as well as brand messaging.
Whether you are still searching for clients or have a waiting list, threat them all with respect and as they are your most important client. Well, obviously if one client spends $10,000 on your service/product and the other one $40, you will naturally make some difference. But what I find it very likable and personal is a follow up (especially after meeting with someone new), sending out personalized note (for a birthday or some other special occasion), those little things that set you apart.
- it all starts and ends with self-confidence and your mindset. You have to believe in yourself and your product/service before you can expect anyone else to do so.

I would challenge that the question isn't specific enough and that the top 3 rules will vary based on the type of entrepreneur in question and the specific mission they aim to achieve.

A serial entrepreneur will view business and it's risks very different from someone who simply wants to create a consistent income for himself and his family.

However, If I had to pick 3 foundational things i'd choose... 1. Why - get really clear about why and confirm that you have no internal conflict about it. A man who is not in conflict with himself cannot be stopped.

2. Count the costs and be certain you and anyone else involved are willing to pay whatever price is asked along the way. Accept that it will cost you 2, 3, 10, 50 times more than you can calculate in the beginning.

3. Identify your targets and keep your eye locked on them as you put one foot in front of the next day after day trusting that you will find the resources you need to navigate the obstacles and barriers you will encounter along the way.

Here are mine:
Always do what you say you will (meet deadlines, follow through on promises, be reliable and dependable)
Be honest in all dealings
Own your mistakes - accept that the future is yours as was the past and that all problems are reflective of your shortcomings because you can only affect your own behaviours.

- Think Different
- Stick to your goals
- Don't worry, things will work out eventually after banging your head against a few walls.. (because you are able to see the negatives and face them which makes you stronger and wiser)

• Never let one customer give you more than 25% of your business volume.
• When you set prices for your services (your time), remember that is is very difficult, even impossible, to increase your pricing with a long time customer; plan ahead and be firm.
• It is the client that you make the least margin with that will require from you the most unbillable time; people who pay full price tend to respect your time and it becomes a pleasure to give them complimentary hours, here and there, to show your appreciation of the value of the relationship.

1. make a WRITTEN business plan, with a solid VISION (modify details of the business plan as you go along, keep the vision)
2. ask yourself if you have PASSION (if no, abort!)
3. implement with FIRE in your belly!

1. Take risks and don't be afraid to fail. Entrepreneurs must make lots of mistakes to learn and discover new approaches, opportunities, or business models.
2. Don't go at it alone. Find one or more partners in whom you believe. Your partner(s) will help you get through the tough times, offer advice, and help you celebrate the little wins. Also, new partners add new ideas to the mix.
3. Embrace your passion and don't lose determination. Entrepreneurship is 10% idea and 90% execution. Those who devote themselves fully and consistently to their new business idea to move it forward are already ahead of most other entrepreneurs.

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Joseph P. Lanham Good advice all around, Rob. in many ways points out how open minded and multi-disciplined an entrepreneur must be.

November 3, 2012

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Agriya .ComPremiumWeb and Mobile application development company at Agriya
7 months ago

1. Be honest with yourself, understand your limitations- and fill the gaps with the right people.
2. Listen more
3. Failure is another word for education. Don't let your education go to waste, learn from it.